All models below were executed with impulse indicator saturation
(IIS) enabled and a block size of 20. Results are displayed for our
selected baseline model: with GDP, population, weather controls, all
three ETS phase dummies (2005, 2008, 2013), a p-value threshold of 0.01,
and spanning 1990-2021.
Country sample: EU-15 (excluding Luxembourg), United States,
Canada, New Zealand, Australia, Japan, Switzerland
For certain specifications (coal, nuclear, exports, imports) countries
with significant level of zero values have been removed.
“Channels” refer to our indicated “demand/generation” and
“technology” channels which distinguish between changes in electricity
consumption/behavior (demand, generation, exports/imports) and
electricity sources. For clarity, detected breaks are represented by
black lines in the comparison plots.